Free Economy and Budget MCQs with Answers

• A. Education Monitoring Authority
• B. Revenue Authority
• C. Gilgit-Baltistan Development Authority
• D. None of These

Explanation: The bill was designed to establish a Gilgit-Baltistan Revenue Authority, responsible for revenue-related administration.

• A. August 19, 2022
• B. August 21, 2022
• C. August 25, 2022
• D. None of These

Explanation: The Rs37.2 billion flood-relief cash programme was launched by Prime Minister Shehbaz Sharif on August 19, 2022.

• A. Karachi
• B. Tehran
• C. Islamabad
• D. Lahore

Explanation: The 21st session of the Pakistan-Iran Joint Economic Commission was held in Islamabad.

• A. Quail-e-Azam & his sister Fatima Jinnah
• B. Sir Syed Ahmed Khan
• C. Allama Muhammad Iqbal
• D. All of these

Explanation: The front of the commemorative Rs75 note carries portraits of Quaid-e-Azam, Fatima Jinnah, Sir Syed Ahmad Khan and Allama Iqbal, making…

• A. Faisal Mosque
• B. Quaid-e-Azam Residency
• C. Markhor
• D. Islamia College, Peshawar

Explanation: The reverse of the commemorative Rs75 note features the markhor, Pakistan’s national animal.

• A. Rs. 50
• B. Rs. 75
• C. Rs. 100
• D. None of above

Explanation: The State Bank of Pakistan issued a commemorative Rs75 banknote for the 75th anniversary of the country’s independence.

• A. 15th
• B. 18th
• C. 24th
• D. None of These

Explanation: Pakistan was described as the world’s 24th-largest economy during its 75-year economic journey.

• A. 14th August 2022
• B. 21 August 2022
• C. 23 July 2022D
• D. None of These

Explanation: The State Bank unveiled the Rs75 commemorative note on 14 August 2022, the 75th Independence Day.

• A. Mustafa Varank
• B. Ruhsar Pekcan
• C. Mehmet Mus
• D. None of These

Explanation: Mehmet Muş, Türkiye’s Minister of Trade, visited Pakistan in August 2022.

• A. Germany
• B. Turkiye
• C. China
• D. None of These

Explanation: Pakistan and Türkiye signed a preferential trade agreement on 12 August 2022 to expand bilateral commerce and market access.

• A. 8.4 trillion
• B. 9.5 trillion
• C. 09 trillion
• D. 8.5 trillion

Explanation: The federal budget for 2022-23 had a total outlay of about Rs9.58 trillion, commonly rounded in contemporary reports to Rs9.5 trillion.

• A. Shaukat Tarin
• B. Hammad Azhar
• C. Miftah Ismail
• D. None of These

Explanation: Miftah Ismail, then federal finance minister, presented the Rs9.5 trillion federal budget for 2022-23.

• A. Rs22 billion
• B. Rs28 billion
• C. Rs38 billion
• D. None of These

Explanation: Prime Minister Shehbaz Sharif announced a Rs28 billion relief package in May 2022, including measures aimed at easing the economic burden…

• A. Africa
• B. Pakistan
• C. India
• D. Bangladesh

Explanation: Pakistan is widely reported as the world’s largest tea-importing country because domestic production is far below national consumption.

• A. 5
• B. 6
• C. 7
• D. 8

Explanation: Shehbaz Sharif reduced the Economic Coordination Committee to five members to make economic decision-making more focused.

• A. 121st
• B. 105th
• C. 109th
• D. None of these

Explanation: Pakistan ranked 121st in the World Happiness Report 2022. The report ranks countries using factors such as social support, income, health…

• A. 20 percent
• B. 30 percent
• C. 40 percent
• D. None of these

Explanation: The SBP’s banking-sector gender policy set a target of at least 20 percent female representation in the workforce by 2023.

• A. Rs103 billion
• B. Rs303 billion
• C. Rs400 billion
• D. None of these

Explanation: The government approved a Rs303 billion package associated with the Prime Minister’s relief measures, including support against rising…

• A. Rs4.28bn
• B. Rs5.28bn
• C. Rs8.28bn
• D. None of these

Explanation: The ECC approved Rs8.28 billion in subsidy for 19 essential kitchen items under the Ramazan Relief Package.

• A. $45 million
• B. $55 million
• C. $75 million
• D. None of these

Explanation: The National Bank of Pakistan faced US penalties exceeding $55 million for anti-money-laundering and compliance failures.